The global Asia Pacific HIV Diagnostics Market is estimated to be valued at US$ 522.5 Mn in 2023 and is expected to exhibit a CAGR of 12. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
HIV diagnostics products such as kits and reagents plays a vital role in early detection and management of HIV disease. Owing to rising awareness initiatives, the demand for point-of-care and self-testing diagnostics is increasing in the region.
Market key trends:
The Asia Pacific HIV diagnostics market is witnessing high potential for growth of artificial intelligence-based molecular diagnostics. AI tools can significantly reduce the time required for HIV diagnosis and help clinicians with interpretation of complex diagnostic data. Also, the use of AI and machine learning for drug discovery and precision medicine is expected to drive market growth. Self-testing through online and home delivery channels is another trend, as it allows discreet and convenient testing without visiting healthcare facilities.
Segment Analysis
The Asia Pacific HIV diagnostics market is dominated by the HIV screening/testing segment which held around 65% share of the total market in 2023. This is attributed to the increasing awareness and screening programs for HIV in countries like India and China. Early detection is crucial for effective treatment of HIV infection, which is driving the demand for reliable and affordable HIV screening tests in the region.
Key Takeaways
The global Asia Pacific HIV Diagnostics Market is expected to witness high growth, exhibiting a CAGR of 12% over the forecast period 2023 to 2030, due to increasing HIV prevalence and growing awareness towards regular screening.
Regional analysis
India accounts for over 50% share of the total HIV cases in the Asia Pacific region making it the highest growing regional market. Followed by China which has also witnessed increased cases over the past few years. Government initiatives for screening and affordability of tests are supporting market growth in these regions.
Key players
Key players operating in the Asia Pacific HIV Diagnostics market are Abbott Laboratories, Merck KGaA, F. Hoffmann-La Roche AG, Atomo Diagnostics, Siemens Healthineers, Inc., bioLytical Laboratories Inc., MedMira Inc., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., and Danaher Corporation. Abbott Laboratories dominates the market with its robust portfolio of HIV diagnostic products.
No comments:
Post a Comment